Crypto market daily report – June 12, 2018

After a torrid 48 hours where the cryptocurrency markets lost around $50 billion in total market cap value, Tuesday morning saw a slight uptick in the prices of several coins. BTC was up to around $6822 at press time having descended to the low $6600 mark on Monday—a good 5% recovery. However, turnover appeared to be on the low side with still a lot of factors affecting the general decline in price overall.

Bitcoin Cash was on the road to the recovery to the $1,000 level, trading at $940 at press time on Tuesday. The currency had experienced a considerable decline from the $1,100 mark it had been trading at only a couple of days ago but now experiencing an uptick to the $950 level after which it’s expected to increase exponentially.

After dropping quite close to the psychologically significant $500 level, Ethereum saw recovery and was trading at the $530 level at press time on Tuesday. As a number of ICOs come on stream this month, it should only be a matter of time before the price of the coin recovered. Ethereum Classic stemmed the tide somewhat and was actually up by a considerable 8% in contrast to the other cryptocurrencies which were still showing significant losses, trading at $15.50.

Ripple also saw some recovery from the $0.55 mark it had reached on Monday and was up by around 4% to the $0.58 level. Litecoin also began a slight recovery and was trading at around $107 on Tuesday morning—up from the $104 it had descended to on Monday. EOS was also up by about 5% over Monday’s level of $10.50 and was trading at well over $11.30 at press time on Tuesday.

Currencies with smaller market cap had mixed fortunes, with Stellar still mired in the $0.24 level, a drop of around 15% over the past 48 hours. IOTA and Cardano were stable at the $1.40 and the $0.17 level respectively, whilst NEO posted a slight recovery and was up by around 2% to the $44 mark at press time. Dash remained mired in the $269-275 level with no real momentum to move forward, although that could change if there was an uptick in the markets.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

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